Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Grandview Ave Odessa, TX 79761-4939

    • Specialty properties
    • 4,500 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4717596
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Country Vet Spay & Neuter Clinic / Veterinarian
    • West Texas Emergency Veterinary Clinic / Animal Hospital

    Property Details for 601 Grandview Ave

    Year built
    1981
    Lot size
    0.17 lot acres
    Property size
    4,500 SF
    Zone code
    EE2
    Property type
    Specialty properties
    APN
    27750.02060.00000
    APU
    277500206000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $495,000
      RETAIL STORES
      $455,000
      MEDICAL BUILDING
      $335,000
      NEIGHBORHOOD: SHOPPING CENTER
      $220,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.345
    Latitude
    31.8587
    CBSA code
    36220
    CBSA name
    ODESSA, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,025
    $21,784
    $216,576
    $238,360
    -
    $21,784
    $216,576
    $238,360

    Comparable in this City

    • Value Estimation
      $280,000
      2,816 SF

      2301 Shakespeare Rd

      CHARITABLE ORGANIZATION • 2,816 SF
      2301 Shakespeare Rd, Odessa, TX 79761
      View Details
    • Value Estimation
      $240,000
      6,600 SF

      708 Lettie Lee Ave

      CHARITABLE ORGANIZATION • 6,600 SF
      708 Lettie Lee Ave, Odessa, TX 79761
      View Details
    • Value Estimation
      $255,000
      4,590 SF

      1344 7th St

      CHARITABLE ORGANIZATION • 4,590 SF
      1344 7th St, Odessa, TX 79761-4711
      View Details
    • Value Estimation
      $565,000
      17,568 SF

      2701 8th St

      CHARITABLE ORGANIZATION • 17,568 SF
      2701 8th St, Odessa, TX 79761-4342
      View Details
    • Value Estimation
      $370,000
      9,876 SF

      1225 Adams Ave

      CHARITABLE ORGANIZATION • 9,876 SF
      1225 Adams Ave, Odessa, TX 79761-4116
      View Details
    • Value Estimation
      $240,000
      3,321 SF

      1001 Murphy St

      CHARITABLE ORGANIZATION • 3,321 SF
      1001 Murphy St, Odessa, TX 79761
      View Details

    Similar Nearby for Sale

    • $325,000
      5,000 SF

      Odessa Warehouse: Prime Location

      Versatile Metal Shop, High Visibility
      1920 2Nd St, Odessa, TX 79761
      View Details
    • $843,325
      1.21 Acres

      Odessa Industrial Land - $843,325

      1.21-acre industrial lot, prime location.
      901 John Ben Shepperd Pkwy, Odessa, TX 79761
      View Details
    • $499,000
      5,050 SF

      Industrial Property with Truck Scale

      5,050 SF industrial property on 7.67 acres for sale.
      2419 W Murphy St, Odessa, TX 79761
      View Details
    • $3,524,200
      12,624 SF

      Andrews Highway Auto Care Property

      Net leased auto care property with highway visibility and access.
      2020 Andrews Hwy, Odessa, TX 79761
      View Details
    • Contact for pricing
      0.11 Acres

      Odessa, TX Land Opportunity

      Land in a growing area, ideal for development.
      408 S Muskingum Ave, Odessa, TX 79761
      View Details

    Similar Nearby for Lease

    • $23,400
      35,010 SF

      Odessa Warehouse with Office Space

      35,010 SF warehouse with office and service bays for lease.
      1510 E 2Nd St, Odessa, TX 79761
      View Details
    • Contact for pricing
      1,932 SF

      Freestanding Restaurant with Drive-Thru

      1,932 SF restaurant with drive-thru on 0.46 acres.
      1918 E 8Th St, Odessa, TX 79761
      View Details
    • $17 SF/Yr
      750 SF

      Office Space For Rent

      750 square feet office space available for lease.
      2626 John Ben Shepperd Pkwy, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office C12, Odessa, TX 79761
      View Details
    • $2,500 /Mo
      14,000 SF

      Office Space in Odessa, TX

      Office space for rent in a coveted Odessa location.
      2114 N Jackson Ave, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Office space for rent with convenient location and parking.
      1128 S Grandview Unit Office C11, Odessa, TX 79761
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    601 Grandview Ave
    Odessa, TX 79761-4939
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.